Raymond Realty has expansion plans for several parts of Mumbai

To develop 17 msf of saleable area in next five years

After its maiden residential project in Thane near Mumbai, the real estate arm of the textile and apparel major Raymond is looking to develop residential properties in South Mumbai and central and western suburbs of the city.

Raymond Realty plans to develop 17 million square feet (msf) of saleable area in the next five years, said its  Chief Executive Officer Harmohan H Sahni.

Since the fabric of choice this time is brick and mortar, the company is currently developing 3 msf of residential properties in Thane - owned by its parent - and by the end of next year, it